ABSTRACT
One of the most relevant aspects in the literature on knowledge intensive entrepreneurship concerns whether and the extent to what new firms engage in product innovation. The recent literature on this topic has highlighted that firms, in highly dynamic contexts characterized by rapid technical change, choose to compete in product innovation to achieve a competitive advantage and that firms differ in their product innovation strategies in terms of timing and frequencies of new product introduction (Greenstein and Wade, 1998), extent of differentiation (Stavins, 1995), previous experience in the same industry or in a different one (Bayus and Agarwal, 2007). This literature has highlighted how differences across firms in terms of product strategies are likely to lead to important differences in terms of performance and survival (Stavins, 1995; Fontana and Nesta, 2009).
